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The UK government has recouped the £20 billion cost of the Lloyds bailout

LONDON — The UK Treasury has recouped its £20.3 billion bailout of Lloyds Banking Group, almost four years after it began selling shares.

The calculations include both share sales and dividends, the Treasury said in a statement on Friday.

The government has a less than 2% stake left in the bank and intends to sell it within "the coming months."

Chancellor Philip Hammond said: “Recovering all of the money taxpayers injected into Lloyds marks a significant milestone in our plan to build an economy that works for everyone.

“While it was right to step in with support during the financial crisis, the government should not be in the business of owning banks in the long term. The right place for them is in the private sector and I’m pleased to be able to say we are approaching the point at which we will sell our final shares in Lloyds Bank,” he said.

The move follows on Hammond's comments from earlier this week that the government may sell its shares in Royal Bank of Scotland for less than the price it paid for them during the 2008 financial crisis.